Anyone holding this share, any comment? It recommended by few brokers.

Sector seems ripe for consolidation.
2517

F & B Chaıns are awful. Chıquıto the same. How they got away wıth ıt for so long ıs the real shock.

Is ıt a buy yet? :)

read ST
arguably a t/o target but prepare for a bumpy ride

The chart looks like the terracing of the vineyards in northern Portugal, where I am at mo!!! Strangely Just Eat seems to be doing quite well, but that is internet delivery rather than bums on seats in a restaurant. I wonder if people's tastes in dining are changing again! (Excl London)

we went to cascais for the first time last summer and liked it so much - and the fish! - that we'll be back there at the end of june

HATE the algarve though and would certainly never pay to go back there

I am half way down now. Was going to head towards Algarve. It's not yet the holiday season here, so all pretty quiet. Absolutely lovely country, lovely food and wine (my first time). A friend said Portugal is like the UK in the 60's. The young hate it, but us older folks think it's really quaint.

algarve is full of ex pats and overpriced 2nd-rate restaurants with menus in german!

Thanks for the tip Mr C. Will have to see what the weather forecast is to decide on north or south for our next day's journey (in Motorhome).

lisbon is well worth a visit, but don't try to drive into the city to park
far better to park outside and catch a train in - very easy and frequent service

Harry,

If you are wandering south from Lisbon take the coastal road from Setubal, via Grandola, Sines and Vila Nova de Milfontes, Odemira, Aljezur. Also, go to Vila Do Bispo
and Sagres.

Milfontes, is a beautiful bay and does have a campsite for parking. (Never used it.)

Very nice patisserie on the main street.

Beautiful, coast with many good restaurants, but stick to the simpler dishes. Fish food is fresh and generally grilled.

I have driven that coast in my 33foot motorhome and had no difficulties even though at the time some of the roads were being upgraded.

The Campsites are basic, but all I needed was occasional dumping and fresh water.

I wild camped in Portugal on and off for 3-4 or more years. The people were nice, friendly and helpful.

The country is beautiful.

The centre of Portugal and its lakes are also beautiful, but fill up with diesel or petrol.


Good luck.

I hope that I can revisit the country.

PS.

Oporto is a beautiful town and if you drift up the Douro and back down the other side there are some lovely little towns and it is fascinating to see the small patches in the hillside used for growing grapes for Port.

-=-=-=

Coimbra the university town is another visit and Tomar.

Tomar has a beautiful little campsite and a little restaurant near the bridge leading to the campsite serving barbequed Goat kid.


-=-=-=

I think it is time to dream again.

PS.

If you go to Lisbon in the motor-home you camp safely at Orbitur Campsite across the Tragus at Costa Caparica and take the ferry into the city centre.

The campsite is a bit rough and ready, but transport to the ferry is easy.

Go to the old town in Lisbon.

conducted (private) walking tours of lisbon are also very much worthwhile

shame tomar is so far (2 hours drive) from cascais ..... makes it a bit of a fag to go there and back for the day

Thanks for the info guys. Looks like low pressure moving in for the next five days, so doesn't really matter north or south. Suspect south will be the preferred option. Currently at Pedrogao. No complaints really as it's 26 deg at noon most days!

Harry - enjoy!

Thanks skinny. Sadly we have a storm approaching from the south west, so not sure which direction to go now!!!

UBS note today:
"Short term uncertainty overrides long-term opportunity
Restaurant Group’s profit warning on 29th April highlighted a deteriorating LFL trend, with -2.7% LFL for the 17 weeks to 24 April indicating a LFL decline of -4.4% for the last 7 weeks. Management appear yet to have a clear explanation for the weakness, let alone a solution. As a result, we are cautious on the near term potential for a LFL turnaround. Whilst there is some valuation support at these levels, we downgrade from Buy to Neutral to reflect the lack of visibility, pending details of the strategic review.
LFL weakness a combination of factors, but clarity on problem is limited The sharp decline in group LFL growth looks to be a combination of; (1) tougher consumer backdrop; (2) increased competition driven by strong supply growth; (3) brand positioning. In particular, there are clearly questions around the brand positioning of F&B, and how effectively it can compete against newer formats. The LFL run-rate implies F&B could be seeing near double-digit LFL declines if you assume other brands are flat, and Pubs & concessions are growing by +2%.
Reduce forecast for LFL growth and new site openings: The group have launched a strategic review of the business, however, we don’t expect any detail until August, and see limited scope for solutions that will meaningfully change the underlying trends in 2016. As a result, we now forecast LFL growth for 2016 of -4.0% vs. management guidance of -2% to -5%, and 2016 PBT of £74.9m vs. guidance of £74-80m. In addition, we forecast new openings of 30 this year to reflect more caution in choice of new sites as part of the strategic review. However, we note that the group remains cash generative despite our forecast margin decline, which implies a 2016E FCF yield of 6.4%, and a c.13% yield excluding expansionary capex.
Valuation: Price target of 305p based on relative multiple valuation We change our valuation methodology from DCF to relative multiples to reflect the uncertainty surrounding the strategy of the group, pending the ongoing review. We value RTN on 10.5x 2016E P/E, in line with the pubs sector (range 6.9x – 14.3x, average 10.5x). Our DCF valuation remains higher at 430p reflecting the potential long-term opportunity, but does not incorporate the heightened execution risk given the ongoing strategic review."

Berenberg today reaffirms its hold investment rating on Restaurant Group (The) PLC (LON:RTN) and cut its price target to 300p (from 550p).

on the bubble again on reasonable volume

it's been rather a good buy for a change .... bought a modest number just 5 days ago at 339

RTN
longish article in today's ST, indicating that t/o may be on the cards, even if not tomorrow

tomorrow may well see a surge unless the markets are badly unsettled by the report of "out" having a 3 point lead - all the referendum polls lie i reckon, the motive being to scare people into (a) voting at all and (b) for remaining